The week recorded an impressive turn of events with equity raisers taking the lead as more Nigerian owned ventures added to their portfolios.
Nigerian mobility startup, Moove, closed a US$63.2 million Series A while anti-counterfeit startup, Chekkit, secured $500k pre-seed funding round.
Aside equity raiser developments, Nigeria’s Nguvu Health launched its on-demand therapy venture
Nguvu’s on-demand therapy venture
During the week, Nigerian startup, Nguvu Health has launched as an on-demand online therapy venture.
The startup provides therapy sessions to Africans anywhere in the world via their smartphones.
The startup utilises Android and iOS apps to connect users with licensed therapists via in-app messaging or video call.
Nigerian mobility startup, Moove, also during the week, cloeed a US$63.2 million Series A.
The funding comes as a debt and equity funding round and is expected to help it expand more quickly.
The startup was cofounded by British-born Nigerians Ladi Delano and Jide Odunsi, to democratise vehicle ownership in Africa by providing revenue-based vehicle financing to mobility entrepreneurs.
Having gained access to various support services to help their companies scale, Global Endeavor network has accepted new founders of tech startups based in Egypt and Nigeria into its fold.
The Endeavor initiative works to catalyse long-term economic growth, selects, mentors, and accelerates the best high-impact entrepreneurs worldwide.
Since launch, the initiative has accepted a host of African entrepreneurs into its network in recent years.
Nigerian product verification company, Chekkit, on Tuesday, announced securing a $500k pre-seed funding round.
According to the startup, the round saw the participation of VCs such as leading Pan-African VC, Launch Africa; and Tokyo-based seed stage investment company, Japan Strategic Capital.
Further more on Equity raiser table, Lagos-based startup, Omnibizoins, raised a seed round of $3 million to digitize Nigeria’s informal B2B supply chain.
The startup, which is a B2B e-commerce platform, connects fast-moving consumer goods (FMCGs) manufacturers to retailers by leveraging technology.
The idea offers a mobile app, WhatsApp channel and a phone number that retailers can use to stock their shops.
Lastly, Zowasel, a Nigerian agri-tech startup, secured US$100,000 at the UN World Food Programme, Zero Hunger Sprint, that was held in Lagos.
The funding round, according to the startup, comes from Guinness Nigeria and Promasidor Nigeria, both leading pan-African consumer packaged food manufacturers.
Zowasel received two investments worth US$100,000 from available $250,000 investment commitment from five corporate organisations.
Thank you for joining us this week. That will be all. Take care and stay here for more updates.
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